"We don't need new funds to bridge the losses of the company. We are looking forward to raise new funds so that we can dominate the market share in future with new products and enhanced presence," Droom founder and CEO Sandeep Aggarwal told.

In focus are cities like Bengaluru where the electric vehicle population has grown in the last couple of years. Also in focus are in-campus commercial vehicle usage as well as short-distance second car options even in cities like Delhi.

Droom’s four different revenue streams will help the company achieve its target. These include its core transactional platform of vehicle transactions, premium subscription charges, advertising and selling of products and services developed in-house, informed the company.

According to industry estimates, the country's domestic automobile sector, including services, is the third-largest in the world, valued at about $125 billion, and is expected to touch $250 billion by 2020.

“We want to increase the sense of pride and lower the anxiety in the mind of a customer when they plan on buying a used vehicle,” said Sandeep Aggarwal, CEO of Droom, which is present in 160 towns and cities.

Dheeraj Hinduja, chairman at India’s second largest truck maker Ashok Leyland, prefers a low profile, but with managing director Vinod Dasari leaving at the end of the month, he says he’s become more “hands-on”.